The firm will handle the property throughout the pre-leasing campaign and once operational
ATAA Real Estate Investment Company W.L.L. has appointed CBRE to exclusively manage and lease its new 11,000sqm ‘Once Mall’ in Bahrain. Developed by Haj Gulf, the retail development is located on Shaikh Salman Highway in Isa Town’s educational area to serve the local area.
The mall is expected to feature international retail and F&B brands and aims to offer unique concepts to attract visitors from other areas. The four-storey shopping centre offers a range of units and zoning for retail, F&B, offices, and entertainment, the statement from CBRE noted.
“I’m pleased to announce our official appointment of CBRE as the property managers of our prime development – Once Mall. Through our pursuit of innovation and application of creativity throughout the design, we have established a new meaning to commercial letting, which will in turn augment the surrounding context of the educational area’s aesthetics,” says Abdulrahman Alrayyes, Associate Director at ATAA Real Estate Investment Company W.L.L.
In August 2022, CBRE advised Aldar Properties on a $221mn RAK hospitality deal and, later in the month, the firm said that Bahrain’s real estate transaction volumes were on a positive trajectory.
The property is said to boast an architecturally pleasing design, with a quality look and feel. There are ample parking spaces and access from the main road is straightforward. With construction in full swing, completion is scheduled for Q4 2022.
CBRE has been exclusively appointed to provide property management and leasing services throughout the pre-leasing campaign and once operational, the company said.
Richard Botham, Senior Director & General Manager at CBRE Bahrain concluded, “We are delighted to have signed an agreement with ATAA Real Estate to manage and lease Once Mall in Isa Town. The property is a significant landmark of scale in the area and will easily compete with other go-to retail and F&B destinations. Unique in design, with a great outlook and visibility on to the main road, CBRE anticipate that the property will attract a great mix of retailers and restaurants, as well as entertainment options, to serve the needs of the local community and beyond.”
Late in August 2022, CBRE said it was continuing its focus on Middle East strategic development with a new country head in KSA.